15‑45 Recovering amounts previously writ15‑45 Recovering amounts previously written off

15‑45 Recovering amounts previously written off

(1) You have an increasing luxury car tax adjustment if: (a) you made a *taxable supply of a luxury car in relation to which you had a *decreasing luxury car tax adjustment under section 15‑40 for a debt; and (b) you recover the whole or a part of the amount or amounts of the debt that have been written off as bad or *overdue for 12 months or more. (2) The increasing luxury car tax adjustment is equal to: (a) the amount of luxury car tax (if any) that would be payable if the *price of the supply of the car (disregarding any previous *luxury car tax adjustments for the supply) was reduced by the sum of: (i) the amount or amounts of the debt previously written off as bad; and (ii) the amount of the debt that has been *overdue for 12 months or more (other than amounts already written off); and then increased by an amount equal to the amount or amounts recovered; minus (b) the amount of luxury car tax (if any) payable on the supply of the luxury car, taking into account any previous *luxury car tax adjustments for the supply.